Fashion Retailer The Foschini Group Announces Closure of 180 More Stores
The Foschini Group (TFG), a South Africa-based multinational retail company with over 4,900 outlets globally, has announced plans to close an additional 180 stores across the next three financial years. The closures are part of ongoing efforts to improve profitability and efficiency amid shifting consumer behavior and weaker performance in physical retail locations. TFG expects approximately 80 store closures during fiscal 2027, with another 100 over the following two years. This follows earlier plans from June that included closing at least 100 underperforming stores while reviewing around 300 others for potential improvement or repurposing. The company has already closed 85 unprofitable locations in recent months and opened 25 new ones, resulting in a net reduction of nine stores by the end of fiscal 2026. TFG is also leveraging its physical footprint to support e-commerce through store-based fulfillment hubs.
Topics: digital transformation physical store rationalization retail strategy